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Posted: Jun 19, 2024
Posted: Jun 19, 2024
The U.S. Supreme Court sided with Starbucks in the coffee chain’s challenge to a judicial order to rehire seven Memphis employees fired as they sought to unionize in a ruling that could make it harder for courts to quickly halt …
Posted: Jun 19, 2024
S&P Global Ratings revised Convex Re’s outlook to positive from stable, anticipating continued broad expansion aligned with its business plans, maintaining a combined ratio of approximately 90% over the next two years, and remaining well capit...
Posted: Jun 19, 2024
The board of governors for Florida’s state-created Citizens Property Insurance Corp. voted unanimously Wednesday to raise personal lines rates by an average of 14% statewide – near the maximum allowed under the insurer’s glide path – star...
Posted: Jun 19, 2024
African Risk Capacity Ltd. (ARC) has received a $27 million contribution from the Dutch government to help boost climate resilience in Africa, and further promote parametric insurance across the continent. According to the announcement, the fundin...
Posted: Jun 19, 2024
The Joint Excess Loss Committee of the Lloyd’s Market Association (LMA), an organisation that represents the interests of the Lloyd’s underwriting community, and the International Underwriting Association (IUA), which represents intern...
Posted: Jun 19, 2024
The E&S market's share of the U.S. insurance industry reaches a historical high, despite a slowdown in premium growth in 2023, reports S&P Global. The post
Posted: Jun 19, 2024
Philip Morris International Inc. stopped online sales of its popular nicotine pouch brand Zyn in the US after receiving a subpoena in the District of Columbia related to flavored products that are banned there. Philip Morris said its preliminary inve...
Posted: Jun 19, 2024
Appian has recently partnered with PwC UK to enhance its ability to deliver innovative services aimed at streamlining processes, improving customer experiences, and boosting operational efficiency for insurance companies on the Appian Platform. Pw...
Posted: Jun 19, 2024
Australian insurer QBE has announced the closure of its North America middle-market segment to “refocus its strategy in the region on those businesses which hold more meaningful market position, relevance and scale.” The segment repres...
Posted: Jun 19, 2024
QBE announced that it will start shutting down the middle-market segment in North America to focus on North American businesses where it has more meaningful market position, relevance and scale. Three core businesses remain—Specialty, Crop and Commer...
Posted: Jun 19, 2024
The SS United States, a historic ship that still holds the transatlantic speed record it set more than 70 years ago, must leave its berth on the Delaware River in Philadelphia by Sept. 12, a federal judge says. The decision …
Posted: Jun 19, 2024
The SS United States, a historic ship that still holds the transatlantic speed record it set more than 70 years ago, must leave its berth on the Delaware River in Philadelphia by Sept. 12, a federal judge says. The decision …
Posted: Jun 19, 2024
As large jury verdicts increase in number and cost, many companies do not have adequate liability insurance to cover these losses effectively, a recent analysis by insurance company Chubb has revealed. According to Chubb’s 16th annual Liabil...
Posted: Jun 19, 2024
Insurance businesses that wait to implement real-time, integrated, and automated compliance solutions are risking falling behind their competitors.
Posted: Jun 19, 2024
Both appointments are subject to regulatory approval.
Posted: Jun 19, 2024
Canada is not alone is experiencing a rise in vehicle theft.
Posted: Jun 19, 2024
R&Q Insurance Holdings Ltd. announced it will file for a provisional liquidation in Bermuda – after it had it had exhausted strategic alternatives for a financial rescue. At the same time, R&Q said the proposed sale of 100% of its …
Posted: Jun 19, 2024
The Atlanta City Council voted to provide up to $7.5 million for small businesses that were affected by water outages due to a water main break near downtown late last month. Georgia Public Broadcasting, the Atlanta Journal-Constitution and other new...
Posted: Jun 19, 2024
Reinsurance giant Swiss Re and carbon removal solutions provider, Carbonfuture, have signed a seven-year contract, which will see Swiss Re supply a minimum of 70,000 tonnes of Biochar Carbon Removal (BCR) credits from Carbonfuture partner, Exomad...
Posted: Jun 19, 2024
Cybercriminals are demanding payments of between $300,000 and $5 million apiece from as many as 10 companies breached in a campaign that targeted Snowflake Inc. customers, according to a security firm helping with the investigation. The hacking schem...
Posted: Jun 19, 2024
First responders believe they have accounted for all 13 people who might have been in a Syracuse two-family home that collapsed yesterday. Syracuse Fire Chief Michael Monds said 11 children and adults were injured and rushed to Upstate University Hos...
Posted: Jun 19, 2024
Brace Underwriting Limited, the Beat Capital-backed, multi-line and alternative risk specialist underwriter, has appointed Michael Davis as Senior Underwriter. Davis holds more than 13 years of industry experience, having previously worked as a pr...
Posted: Jun 19, 2024
RALEIGH, N.C. (AP) — Damage to a utility’s power equipment by gunfire found in Durham was associated with an outage that left hundreds of people without power earlier this week, the company said. About 730 people experienced a power outage R...
Posted: Jun 19, 2024
JACKSON, Miss. (AP) — What could become Mississippi’s largest solar energy project was approved by a county board this week over objections from people who live near the proposed site. Hinds County supervisors voted 3-2 in favor of a conditiona...
Posted: Jun 19, 2024
A vessel hit by a sea drone in the Red Sea last week has sunk, the UK Navy said, the second confirmed to go down since Yemen’s Houthi rebels began attacks on shipping in the region. The bulk commodity carrier …
Posted: Jun 19, 2024
Credit rating agency AM Best has downgraded the financial strength rating of reinsurer Sun Re L from B+ (Good) to B (Fair) and lowered its Long-Term Issuer Credit Rating from “bbb-” (Good) to “bb” (Fair). These Credit Ratings are now under review...
Posted: Jun 19, 2024
Large U.S. insurance companies are improving in sharing information about their climate-related risks and strategies, but many gaps and inconsistencies persist; for instance, only 29% disclosed metrics and targets related to climate risks, accordi...
Posted: Jun 19, 2024
Analysts at BMO Capital Markets have estimated that insurer Allstate Corporation will see Q2 2024 catastrophe losses of around $2.65 billion, of which $2.15 billion is made up from May to June. If you recall, the US primary insurer disclosed in Ma...
Posted: Jun 19, 2024
Port strikes at five key five German ports may cost $6 billion (£4.71 billion) in lost trade according to analysis by Russell Group, a data and analytics company. There is a 24-to-48-hour strike by port workers across the five key …
Posted: Jun 19, 2024
ZA Tech, the next-generation insurance core system SaaS provider, has announced its rebrand as Peak3 and the successful completion of its $35mn Series A fundraising that will accelerate its expansion in the EMEA region. Founded in 2018, Peak3 has...
Posted: Jun 19, 2024
WTW’s Jaclyn Perryman appreciates what makes the agricultural, food and beverage sectors unique — including their challenges — and shares her advice for how to help clients succeed. The post
Posted: Jun 19, 2024
This edition of International People Moves details appointments at Canopius and Swiss Re. A summary of these new hires follows here. Canopius Taps AXA XL’s Houghton as Product Leader, Specialty Canopius, the London-based global specialty and pr...
Posted: Jun 19, 2024
Ledger Investing, the insurtech and insurance-linked securities (ILS) focused venture-backed company, has appointed industry veteran Amy Stern from Pie Insurance as Chief Executive, Reinsurance. With a career that spans over 25 years across the se...
Posted: Jun 19, 2024
AM Best has upgraded the Issuer Credit Rating of PURE Specialty Exchange, citing the firm’s financial flexibility, high-quality assets, and conservative investment portfolio. Spelt out, AM Best has upgraded the Long-Term Issuer Credit Rating...
Posted: Jun 19, 2024
A session at RISKWORLD showed how a data-driven, proactive approach to risk management leads to a winning loss control formula. The post How t...
Posted: Jun 19, 2024
Sydney, Australia headquartered insurer QBE has recently announced the appointment of Jeremy Lau as Chief Underwriting Officer for its Asian business. Lau takes over from Andy White, who is now Group Head of Underwriting Strategy and Performance....
Posted: Jun 19, 2024
Tampa, Florida headquartered property insurer, American Integrity Insurance, is set to grow its footprint with expansion into the State of Georgia, establishing its presence in the region with the launch of a HO-5 homeowners policy for homes up to...
Posted: Jun 19, 2024